Overview
Continental is structured in six divisions:
Chassis & Safety
Powertrain
Interior
Passenger & Light Truck Tires
Commercial Vehicle Tires
ContiTech
One of Continental's main areas of expertise and technological leadership is Fuel Consumption Reduction, achieved through more efficient fuel injection systems, reduced rolling resistance tyres and hybrid propulsion systems.
Continental sells tires worldwide under the Continental brand. It also produces and commercializes other brands on a regional level, such as General, Euzkadi, or Barum. Continental's customers include all major automobile, truck and bus producers, such as Volkswagen, Daimler AG, Ford, Volvo, Iveco, Schmitz, Koegel, Freightliner Trucks, BMW, General Motors, Toyota, Honda, Renault and Porsche[citation needed].
In 2001, Continental acquired a controlling interest in Temic, DaimlerChrysler's automotive-electronics business, which is now part of Continental Automotive Systems. The company also purchased German automotive rubber and plastics company Phoenix AG in 2004, and the automotive electronics unit of Motorola in 2006. Continental recently acquired Siemens VDO from Siemens AG.
It recently started the construction of a plant in Costa Rica.
Continental are a production plant in Timisoara (ROMANIA) and a country center, research building in Iasi (ROMANIA).
Takeover offer
In August 2008 Continental agreed to be taken over by the family-owned auto parts manufacturer Schaeffler Group and a consortium of banks in a deal valuing the company at 12 billion. Schaeffler has however pledged to restrict its stake in the company to less than 50% for at least four years. Continental chief executive officer Manfred Wennemer, who had tried to preserve the independence of the company, in contrast to the chairman of the supervisory board, Hubertus von Grnberg, subsequently announced his resignation, stating that the "sneaky" move had been carried out "egotistically, high-handedly and irresponsibly". Dr. Karl-Thomas Neumann has succeeded Manfred Wennemer as chief executive officer of Continental on September 1, 2008.
Continental Tire the Americas, LLC
Continental Tire entered the North American Tire industry with its 1987 purchase of General Tire, forming Continental Tire of North America (CTNA). At the time, Continental was following other tire manufacturers, such as Bridgestone and Michelin, into the American tire market.
The North American headquarters of the tire divisions are relocating to Lancaster County, South Carolina by 2009. The North American headquarters of the CAS division are located in Auburn Hills, directly South of the Great Lakes Crossing Mega Mall.
In 2006, CTNA closed its tire production plant in Mayfield, Kentucky, and announced the cessation of tire production in Charlotte, North Carolina. The same year, the Company announced that effective January 1, 2006 it would be implementing massive cuts on retiree health care for retirees across the country.
Automotive electrical-energy storage systems
Continental is working with GM to provide the battery pack for the Chevrolet Volt extended-range electric vehicle (E-REV). They are the primary contractor for a system utilizing Lithium-ion batteries from A123Systems. Together they are one of only two teams remaining in the competition with GM.
This section requires expansion.
See also
Continental Automotive Systems -- one of six divisions
References
^ a b c "Annual Report 2007" (PDF). Continental. http://www.conti-online.com/generator/www/com/en/continental/portal/themes/ir/financial_reports/01_reports/download/annual_report_2007_full_en.pdf. Retrieved 2008-08-25.
^ "Q3 Report 2007" (PDF). Continental. http://www.conti-online.com/generator/www/com/en/continental/portal/themes/ir/financial_reports/01_reports/download/q3_2008_en.pdf. Retrieved 2008-12-30.
^ "The History of General Tire from 1915 up to now". http://www.conti-online.com/generator/www/com/en/generaltire/automobile/themes/history/ctwl_history_en.html.
^ "Continental Corporation - History 1871 - 1926". http://www.conti-online.com/generator/www/com/en/continental/portal/themes/continental/history/1871_1921_en.html.
^ "Continental Global Site - Passenger Cars". http://www.conti-online.com/generator/www/start/pkw_en.html.
^ "Continental Corporation - History 1995 - 2007". http://www.conti-online.com/generator/www/com/en/continental/portal/themes/continental/history/1997_2006_en.html.
^ "Continental AG and Siemens VDO Automotive AG join together to form automotive supplier at forefront of global market". http://www.conti-online.com/generator/www/de/en/cas/cas/themes/press_service/hidden/press_releases/company/economy_slash_business/acquisitions/pr_2007_07_25_siemens_vdo/pr_2007_07_25_siemens_vdo_en.html. Retrieved 2007-08-01.
^ a b Mason, Rowena (21 August 2008). "Schaeffler family buys out tyre giant Continental for 12bn". The Daily Telegraph. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/22/cnball122.xml. Retrieved 2008-08-25.
^ "Continental Corporation - History 1971 - 1995". http://www.conti-online.com/generator/www/com/en/continental/portal/themes/continental/history/1971_1995_en.html.
^ Continental Tire to close Kentucky plant - Charlotte Business Journal:
^ Continental may halt production, lay off 478 - Charlotte Business Journal:
^ USW: Continental Retirees
^ Keegan, Matt (2008-09-26). "Continental Prepared To Build 15K Lithium-Ion Packs Annually". http://thearticlewriter.com/autowriter/continental-prepared-to-build-15k-lithium-ion-packs-annually/. Retrieved 2008-09-26.
^ Voelcker, John (2008-08). "Battery Czar". IEEE Spectrum. pp. 3237.
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